Day: 7 July 2026

Chisholm Hunter, the family-run jeweller and luxury watch retailer, is poised for record turnover of nearly £80 million this financial year, defying challenging retail conditions marked by shrinking margins. Prioritizing long-term stability over aggressive expansion, the company has successfully enhanced its customer experience through investment in skilled employees. With plans for selective store openings, including locations in Westfield and Canary Wharf, Chisholm Hunter is navigating the retail landscape with a focus on agility and customer engagement, positioning itself as a resilient competitor amid industry upheaval.

This summer has witnessed a dazzling display of luxury timepieces at major sporting events like Formula 1, Wimbledon, and the World Cup. Notable figures have turned heads with their exquisite watch choices, from Charles Leclerc’s striking Richard Mille RM72-01 at Silverstone to Andrew Garfield’s unreleased Ingenieur Automatic 35 at Wimbledon. Legendary tennis player Roger Federer sported an iconic Rolex Datejust II during matches, while Drake flaunted the exclusive Richard Mille RM 19-02 Tourbillon at the World Cup. These accessories not only highlight the athletes’ personalities but also underscore the growing intersection of sports and luxury watchmaking.

The UK government’s decision to end VAT refunds for overseas shoppers in 2021 has had significant repercussions for its retail sector. As tourists flock to EU destinations where they can reclaim VAT, British retailers are witnessing a sharp decline in spending. In 2024 alone, British shoppers claimed an impressive £742 million in VAT rebates from the EU, highlighting a stark contrast to the UK’s post-pandemic recovery. With projections suggesting a potential £1 billion in VAT claims by 2026, the absence of tax-free shopping in Britain is raising alarm among retailers who argue for a reconsideration of VAT policies to help boost the struggling economy. Major brands are feeling the pinch as luxury sales decline, with many affluent tourists now opting for European bargains over British goods.